Section 1A - Revenue by Source and Fund

SECTION 1A. In accordance with Articles LXIII and CVII of the Amendments to the Constitution and section 6D of chapter 29 of the General Laws, it is hereby declared that the amounts of revenue set forth in this section by source for the respective funds of the commonwealth for the fiscal year ending June 30, 2015 are necessary and sufficient to provide the means to defray the appropriations and expenditures from such funds for this fiscal year as set forth and authorized in sections 2, 2B and 2E. The comptroller shall keep a distinct account of actual receipts from each such source by each such fund to furnish the executive office for administration and finance and the house and senate committees on ways and means with quarterly statements comparing such receipts with the projected receipts set forth in this section and to include a full statement comparing such actual and projected receipts in the annual report for this fiscal year pursuant to section 13 of chapter 7A of the General Laws. The quarterly and annual reports shall also include detailed statements of any other sources of revenue for the budgeted funds in addition to those specified in this section.

Fiscal Year 2015 Revenue by Source Fund (in Millions)

Source

AllBudgetedFunds

GeneralFund

CommonwealthTransportationFund

MassachusettsTourismFund

CommonwealthHealthandPreventionFund

HealthInsuranceExpansionFund

Other *

Fiscal 2015 Consensus Tax Revenue Estimate

Alcoholic Beverages

79.2

79.2

0.0

0.0

0.0

0.0

0.0

Cigarettes

513.0

513.0

0.0

0.0

0.0

0.0

0.0

Corporations

2,000.0

2,000.0

0.0

0.0

0.0

0.0

0.0

Deeds

232.6

232.6

0.0

0.0

0.0

0.0

0.0

Estate Inheritance

304.3

304.3

0.0

0.0

0.0

0.0

0.0

Financial Institutions

4.8

4.8

0.0

0.0

0.0

0.0

0.0

Income

14,020.8

14,020.8

0.0

0.0

0.0

0.0

0.0

Insurance

413.5

413.5

0.0

0.0

0.0

0.0

0.0

Motor Fuels

771.6

0.0

770.6

0.0

0.0

0.0

1.0

Public Utilities

(1.8)

(1.8)

0.0

0.0

0.0

0.0

0.0

Room Occupancy

141.7

92.1

0.0

49.6

0.0

0.0

0.0

Sales - Regular

4,038.8

4,038.8

0.0

0.0

0.0

0.0

0.0

Sales - Meals

997.7

997.7

0.0

0.0

0.0

0.0

0.0

Sales - Motor Vehicles

783.3

257.1

526.2

0.0

0.0

0.0

0.0

Miscellaneous

15.4

15.4

0.0

0.0

0.0

0.0

0.0

Unemployment Insurance Surcharges

22.2

0.0

0.0

0.0

0.0

0.0

22.2

Total Tax Revenues:

24,337.1

22,967.5

1,296.8

49.6

0.0

0.0

23.2

House 2 Tax Initiatives & Delay of FAS 109

Repealing the Exemption of Candy and Soda from the Sales Tax

67.8

0.0

0.0

0.0

67.8

0.0

0.0

Delaying the FAS 109 Deduction for an Additional Year

45.8

45.8

0.0

0.0

0.0

0.0

0.0

Taxing Security Corporations Like Other Business Corporations

21.0

21.0

0.0

0.0

0.0

0.0

0.0

Taxing Non-Insurance Subsidiaries of Insurance Companies Like Other Business Corporations

* Workforce Training Trust Fund, Inland Fisheries and Game Fund and a number of budgetary funds established in Chapter 194 of the Acts of 2012, otherwise known as "An Act Establishing Expanded Gaming in the Commonwealth."